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The Quiet Before the Storm: Fortifying the Landlord's Position Before the Tidal Wave of Tenant Bankruptcy
After the signing of the lease, the last thought entering the landlord's consciousness is that its new tenant is going to file for bankruptcy protection during its tenancy. In the beginning stages of the relationship between landlord and tenant, there is a brief period of shared optimism about the future and the joint prosperity that the new union is bound to offer.
This period may represent the quiet before the storm ' when the landlord's optimism soon gives way to the unfortunate reality that the tenant is in dire financial distress. Financial crisis can turn, very quickly, to the filing for bankruptcy protection in the form of reorganization under Chapter 11 or liquidation under Chapter 7. Once the landlord becomes a creditor in bankruptcy, it is powerless to change the terms of the lease and the respective rights of the parties without the approval of the bankruptcy court. The retail landlord is in a considerably better position and is more likely to maximize its value proposition as a creditor in the tenant's bankruptcy proceeding when it employs foresight and prevention, careful monitoring, and decisive action.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.